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20121201
20121231
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to washington dc and he came back home with some bacon. that is what you do. that is what you do. are people overwhelmingly supported him in the election. not just at, buthy not? gerri: quid pro quo, bring home the bacon. very controversial. we are going to have one out in just a moment. but first, it could be a day of reckoning lawmakers in michigan considering changing the status to a right to work state, giving workers the freedom to opt out of paying union dues. we have the abor policy director for the mackic center for labor policy. tell me what it is you're trying to do wi this legislation. >> there are rumors that michigan can become the 24th rights work state in the nation. he gives workers the ability to choose whether or not to pay a union and without rights or protections, they can actually get the worker fired in aunion if they choose not to gerri: i understand there are some five groups of unions to protest what you're trying to do. at you make of that? >> they are protesting what they think may be an imminent right to work bill introduced in michigan's capital in lansing. gerri
for full implementation of tracy: washington is bracing itself f the full implementtation of dodd-frank. but will dodd-frank prevent another financial meltdown, let's ask bart chilton. i know you are testifying tomorrow to report on how it is going with the implementation of dodd-frank how is it going? >> slow but sure, we have not made as much progress as law required. about 400 rules in the government we've done within 35, we'r135, we'reslow but floodingd the rig balance, and g things right, and don't cause a market migration to to other country, and don't create a devastating havoc on financial firms or markets. tracy: we've seen before with sarbanes-oxley, it became arduous. that can't happen again. >> the systemic risk, the risk to all of us, some people call it, too big to fail. that is the problem in 2008, we lost 9 million jobs, and people lost their homes, that is what we're trying to resolve. tracy: with 400 new rules, do you really think you will prevent another -- if we have -- another financial crisis, there are people out there that are starter than all of us, figuri
fox business the lines of communication open, but it's an empty house in washington. look at these pictures. house members on their long weekend break, and the senate is out until monday, but not before working out logistics for a big event. a private screening of steven spielberg's lincoln at the capital. now, harry reid using his time to take a special waiver to allow unbuttered popcorn in the auditorium. that's what passes for work these days. the president's holding another campaign style event as the middle class families, and with more, michael burgess of texas. congressman, great to have you object show again. >> great to be with you, thank you. gerri: everything's hanging in the banse, economy, middle class income, taxes, you name it, and you and your fellow house members are not going to work. >> well, wait, this is a 24-hour day job, seven days a week. i'm in new york tomorrow looking at the hospitals affected in hurricane sandy, and i feel like i need to do the ground work to investigate that for myself. gerri: you're doing work, but not all the people you work
these talks in washington. and creative ways to hike taxes but no clear ways to cut spending. cut him out. resolution war no, it will cost us dearly. the government is getting fatter. i have run out of analogies. go eat dinner.o , but only one at republicans are hong wil pass. here with exquisite exclusive details, richardson in washington. >> good evening. what republicans are looking to do in the house is basically deal wh the tax provisions of the fiscal cliff to hit on january 1 so thereill be two amendment votes on the house. the first constructed by republicans dubbed the nancy pelosi plan because it contains a number of the provisions she holds. amounts less than $250,000 per year, it extends some of the stimulus provisions with income taxpayers, child cred, and raising amounts more than $1 million. this is a republican plan ,-com,-com ma the one if it goes past the house, likely to pass the house, it makes the current rates permanent for amounts less than $1 million per year. it takes capital gains and dividend rates nw 15%, make them permanent for amounts under $1 million for amo
, everybody. i am gerri willis. it is a war of words over the fiscal cliff in washington. the president blasting republics today for their refusal to take his latest offer, calling it puzzling. republicans are doubling down on the plan b. he called the veto thrt bizarre and irrational. $500 billion in tax hikes closer to every amerin. >> there has to be a recognition onhe part of my republican friends that take the deal. but they keep on finding ways to say no. i don't know how much of that just has to do with this. it is very hard for them to say yes to me. gerri: what he stated that? >> it is incredibly sad and frustrating, that's what that is. the president, through the entire campaign, says wants a balanced aproach. we have increased spending from 2007 to 2012. $1 trillion. year over year. a trillion dollars. revenues at record highs. >> let's talk for a second about the republican response. gerri: white house is opposition for the backup plan. it is growing more bizarre and irrational by today. is this the kind of conversation that is going to get something done in washington? or
business senior washington correspondent with the very latest details. how close will this be? >> the vote on that tax bill, the one that would raise taxes on people making more than million dollars a year, they are still working on getting the republican leader, the speaker still working on getting enough votes to get that to pass later tonight. we expect that around 8:00. as one price for votes, right now than house republicans have also got a bill on the floor which would impose new spending cuts. what it would be technically is it would replace the sequester, get rid of those big cuts in defense spending. replace that with about $300 billion in new spending cuts over ten years. some republicans want to be able to say they voted for spending cuts before they even consider voting for a tax increase. they're debating the right now on the floor, the spending cut bill. take a listen. >> we don't just have a fiscal clef. we have of fiscal abyss in front of us, and that is at debt crisis that is on our horizon. failure to address this debt crisis means not just 47 percent of americans, but ev
in washington. we don't what they are going to do. 2% cut in gdp. >> 's. tracy: even if there is nobody changed, you are still going to feel the ancillary. all of that stuff -- >> you will feel it. when you get the first paycheck when it is $20 less per $100 less, your brain says i have to stop spending. i have to slow it down. i have to pay off debt. all good things in the long run. but in the first and second order of next year, borderline recession. tracy: people will go under their be again. >> that is what happens. tracy: what n we do before the end of year? what are you telling your clients? >> the ideas are how i capture losses. if we have the opportunity to shift income into next year, when do i book a iece of business? one-way make that income show up in theollowing tax year? to further attacks. paid omorrow. why pay today when you can pay tomorrow. these conversations are literally 180 degrees different. you want capital gains today. you have until december 31. do not wait until the last minute. a 15% capital gains rate today. we don't know what it's going to be tomorrow. tracy: we ar
in washington. we are spending currently a trillion dollars more than we are bringing in. this president under his first four years increase the size of our federal government spending by 25 percent, and now he's asking for more stimulus money. unfettered control. this really is a hostage situation, and this is not what the american people need. we have 25 million americans looking for jobs, searching for jobs. we don't need to add additional taxes. gerri: covers woman, look. the american public is going to blame your party, the republicans, some 53 percent say of the fiscal cliff happens, every fall over the edge republicans are to blame. how do you square that? is a year on the right side, trying to do things. yet the public certainly does not see your effort. >> i think one of the things that is so difficult for me is that the media cannot not talking about you in particular. the general media has fallen into this rabbit hole of only talking about this one issue. if we were to give the president what he wants, the panacea. that is the pitfall of our problems. it only funds government for ei
people in washington bureau. let's be realistic about this. the president owns the economy at the end of the day, whether he wants to admit it or not. this is his job. i was there in 2003 in the second round of so-called bush tax policies came to the house. the house house wanted $550 billion in cuts. all they could get was $250 billion. it was a compromise. george bush came down and met with our conference and said, you guys thought the good fight, this is what i mean, need, let's go and take what we can get, with a $250 billion and the problem is solved. gerri: i don't see that exactly. [talking over each other] [talking over each other] >> can you imagine? can you imagine lyndon johnson sitting on the sidelines while something like this was going on? gerri: i cannot imagine lyndon johnson going anywhere but washington and sitting there, quite frankly. something that is new out this afternoon, senior administration officials in hawaii, saying that it up the gop. that gop leaders should not stand in way of coming to resolution of the fiscal debt crisis. what do you say to that? let m
america up a fiscal cliff of its own making. president obama and the senate back in washington today trying to get some kind of a deal done, that is what they say, but nothing will likely come in time. harry reid spent the day moaning about how bad of a speaker john boehner is good the house is set to return sunday afternoon just one day before the end of the year. nearly 90% of americans will be hit with $500 billion in tax hikes and spending cuts. as we head off a cliff, what can you and your family expect come january 2? president of the american action reform joins me now. so, windows narrowing, what can we expect from here? >> if we literally go on autopilot and they fail to change course, i am worried about the economy. some sharp equity market attractions, consumer confidence has already begun, lots and lots of notices sent out, layoffs scaring people to death. this is not a good news story for anybody looking for a job. gerri: the clock keeps on taking. the cover of "the new york post," pretty amusing. off the fiscal cliff, this is really going to hurt. i think everybody can
to an offer made by the white house yesterday, we go to rich edson from washington, d.c. with the latest. rich, any response from the white house on this? >> still working on that. aids say in exchhnge of proposals taken place, some movement, but still major differences between the white house and speaker's office. fox news reports the speaker and president just spoke on the phone. white house folks s there's a sign of movement. a senior huse aide says the evite house reduc the and the white house has reduced itsm demand for tax revenue increases from just under to fund the store one-and-a-half to will sort of the latest republican billio offer of $800 billion.e there is anfother offer on the t table from republicans. the details are known.ys the spokesman said the white house got up counter offer tois. solve our looming debt crisis. we are still waiting for the white house to identify what pet spending cuts the president is willing to make as part of the balanced approach.use fox news is reporting senior white house official said the signs are making some progress,e but there is still littler
progress to avert the fiscal cliff. even if washington doesn't get its act together, there are steps you can take to lower your tax burden next year. you can empower yourself. in a moment, we are going to get advice from the founder and president of diverse financial consulting. it looks like congress will have no choice but to punt the fical cliff debate until next year. we have a guest from the cato institute. sequestration kicks in, maybe talked about? >> i certainly agree with the sequestration part. we should be able to find 100 belden and spending cuts. we should be able to find 50 billion in spending cuts the front. i think the sequestration and spending cuts should happen. unfortunately, many of the tax increase if we don't do something about taxes, i think it makes it harder to go back and extend any of the tax cuts next year. so we might find ourselves in the worst of both worlds. i still give it about a 55050 chance that theyy come up with some sort of deal. but if they do, it won't be until christmas eve. tracy: for new year's eve at our? >> yes. tracy: most likely the deal w
to drum up support among the public. not in washington or with congress or the senate. here is what he had to say. >> it is not acceptable to me, and i do not think it is acceptable to you for a handful of republicans in congress will middle-class tax cuts hostage simply because they don't want tax rates on upper income folks go up. gerri: it sounds like the same old, same old. the president has been making the sa comments again. is this any way to sell a plan? >> there really is not. the president is not being serious about this. the fact that the president is out there campaigning on this rather than negotiating, it means that those that are negotiating, such as secretary geithner, they probably don't feel bound by what the president is saying. th is the fit gammons and certainly not a serious offer. >> mitch mcconnell laughed out loud on camera at the plant. what do you make of that? >> he had every reason to. let's look at this plan for what it is. a massive tax hike. instead of offering tax hikes, which is something that republicans have been mandated, he wants more spending and he's
standard, steven haze. welcome. great to have you here. i want to start with the conversation in washington and what the speaker had to say about the status of the fiscal here is mr. boehner. >> this is in the progress report because there is no progress to report. when it comes to the fiscal cliff that is turning our economy and jobs, the white hhuse is wasted another week. gerri: what do you say? we wasted another week. we seem to be getting nowhere, and now folks are saying the president is trying to entice us of the fiscal cliff. >> look, i think they're actually some pretty strong incentives for the president to take the country over the fiscal cliff. if you look at what the president's stance to gain if the country goes over the fiscal cliff, there are very clear and identifiable things. on the one hand the president could identify himself as a tax cutter. he could say -- on january 1st the president in terms of the country and say, now in favor of cutting these taxes that have been raised because we did not solve this before the fiscal cliff. he can turn and say to my want to restore
't but i suspect we'll have some last minute, slap dash, terrible washington style deal that won't do anything. this fiscal cliff doesn't solve our long-term debt propses. lou: breaking with the practice and policies of washington over the course of the past 50 years. stepn hayes, thank you very much. judith miller, thank you very much. john fund, thank you. time for a few quick comments. ken wrote us to say, correct me if i'm wrong, wasn't it the obama administration that released thousands of guns into the hands of criminals? now they want to talk gun control for law-abiding citizens? that was just "fast and furious." mike tweeted us about benghazi and the report, always blame the dead guys. they did. thanks for being with us. gerri: hello, everybody. i am gerri willis. ten days until we got the fiscal cliff. president obama speakingmoments ago, saying that maybe some time off will give both parties perspective to drink some eggnog, sing some careless, maybe reached the fiscal cliff deal. how speaker john boehner is doing damage control on their plan b mess. before heading out for t
's a lot of progress in washington right n, sot best talkg with dealing with the bush era policies and the rest is pushed even further into 2013. tracy: eve the extenders probably will get punted for a year or extended for a year. so here we are again this time next year we wwll have the same conversation. >> that is just how it goes forward. we have to acc accepted is goine done. tracy:he only way to do this is to throw the book out a start oer. republicans offered it to them three times. fered it to them lastweek and turned it down flat. not interested forming the tax. i think we're in perilous time and we're down tthe wire. now's th is the time to put the legislation together. tracy: iris has to implement it and it is very scary. still come, should you be abable to use your cell phone oa flight? we will have a debate over that. aad president obama asking for his support for his fiscal cliff plan. also into the middle of a union3 what does he have to say about michigan becoming a right to work state? find out next. tracy: we have fox business3 alert for you. the average price fo
, connecticut and more on the president's reaction we go like to our washington correspondent from washington, dc. james? >> good morning, from the nation's capitol where for president obama as for all americans, it was a if the madness of the phenomenon, the mass shooting, descended, in connecticut, to the most horrifying level. the would fills -- the profile stayed the same, young man, in adolescent, severed from community and simple pleasures and articled. he is described as of advanced intelligence but remote. most of the victims in this case were very different. children ranging in age from 5 to 10, the most defenseless. the toll as we have reported, 28 dead including the mother and the school principal and 20 children, one school worker was wounded. president obama who has layed the difficult role of consoler in chief in the past struggled this time to contain his emotions and he spoke of the landmarks of life, first days, graduations, and victims of their families were robbed of this along with innocence taken of those who survived. we endured too many of the tragedies and when i learn
here a little bit. you wrote a op-ed, calling on washington, calling on congress and the president not to raise taxes on small business operators. what do you fear and what would you like to see hpen? >> i think we're going to just wreck this very fragile economy if we raise taxes on the people who are creating jobs. they want to create jobs. we need to give the people in small business a stability, and a predictability. they need to know what to expect and all the president talks about is more taxes and more taxes and more taxes. and, on top of health care, that's why we have not gotten really any better off in unemployment than when the president took office. i just think it's time for us to stop talking about making it harder to create jobs and instead, say we champion small business and we want you to grow and expand and give us a great economy by hiring people. gerri: senator, i li what you said about stability and predictability. i think that's what a lot of people are looking for out there. thanks for coming on the show. great to have you here. i hope you come back soon. >>
of congress. washingtons in the rearview see, and everybody else is getting ahead of them. >> right. i say that's like every other day in america whe the rest of the world as head of congress. [laughter] gerri: how is this different? [laughter] >> i think that's right. i think what we're seeing in public is a little bit different from all rehearsing in private. what you're lily to see is republicans agree to some kind of decoupling of the tax rate issue, whether the do it and this proposal that has ben floated thathey vote present and let the president and democrats on the issue or whether they free up -- hether john boehner frieze of members of congress to vote for some kind of a compromise that would include a rise in rates on the wealthy. i don't know what the mechanisms will be, but yu have the negotiations taking place on the one hand, and on the other hand you have negotiations on all the rest of the stuff which is likely to be lumped into some kind of an omnibus bll a sries of bills at the end o the year struck the last minute to bail us out of this issue. likely to include a bunch
to keep digging. pick your poison. -ither way this great country is dead. call it the washington inquisitions. we are getting ripped apart. tomorrow the governor that disagrees and pat buchanan who fears even worse than i do. rip up. fair and balanced. gerri: tonight broken promises. the government has let small business owners feeling forgotten. one is here with her story. and your shopping questions answered. consumer reports' annual money in nuys list. welcome to "the willis report." ♪ gerri: hello, everybody. i'm gerri willis. a bold counter ofer to president obam on the fiscal clef. the new plan contains 800 billio in new taxes, half of what t president was looking for. more importantly, the gop plan keep tax rates the way they are now. we kw that is a deal mker for the tie-breaker for the presidents. joining me now, theman some democrats blame for the fiscal cliff impasse, grover norquist, president of americans for tax reform. and the many ands a finger to about fixing it, michael reagan, founder of the reagan group. i wantto start with the republicans plan that they put
on this, we have peter barnes, fox business sr. washington correspondent. what did the president have to say moments ago? >> john boehner did say that this would be a cooling off period. maybe they would have some time to reflect here. the president said that he did speak on the phone to speaker john boehner this afternoon. he also had majority leader harry reid to avoid the fiscal cliff and figure out a passport. he said he is ready and willing to try to get a compromise package done. all at once or stuff like that. but we'll have to wait until after the holiday. the president planning to hold out for the holidays, and congress is out for the holidays. the president saying that putting pressure began on republicans, house republicans, to least extend tax cuts for the middle class. that would be the step by scratch in transit approach and he is speaking to constituents back home who he hopes will give feedback to members of congress while they are there for the holiday to try to get them to agree or get back to the table to negotiate something. gerri: if it were up to me, i say that t
willis. time runni out for washington to get its act together to keep us from falling out the scal clef. president obama and the speaker sitting down at the white house today after the speaker offered his latest proposal which sources say includes tax hikes on millionaires, anchoring several conservative organizations. it turns out his concessions are not good enough for the president. the white house making it clear the only balanced plan on the table is the presidents. where do we stand? with more on this, president of the american action forum and former ceo director. welcome to this show. always great to see you. what do you ke of this idea at this is not balanced enough rest? >> look, the only thing the president has put out publicly was the initial requst that there be over one half trilion and higher taxes, and that would have net deficit reduction which means there was nothing in the spending side, and that is not balanced by any measure. since then, most of the talks have gone underground. don't generally notice on the table. you know, we have seen from the other side is a real
Search Results 0 to 49 of about 64 (some duplicates have been removed)

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